I would feel a lot more confident about TZA going up if the RSI on $RUT would have hit 70 recently. It hasn't done that (yet). We could still tag the lower BB on $RVX at 22ish before we're done with upside buying pressure.
Thanks Earl of. Perhaps you should have a TZA/TNA blog! This is the first time you have said that you think TZA might be up so finally I can sleep tonight!
We are in a New Moon Trade (favors TZA). [ After seven days, this trade is DOWN 10.0% ]
Volume today for TZA was about average for the past 7 days.
$RVX (VIX for $RUT) closed 4.1% lower.
TZA was down today and down in 10 of the past 11 days.
Ultimate Oscillator jumped from 30 to 34.5 while TZA fell, which is a divergence possibly warning that TZA might rise tomorrow.
Bollinger Bands for $RVX (VIX for $RUT): the lower BB was touched last Friday, but has moved generally away (up) since then, seemingly indicating that $RVX will be rising (good for TZA).
Bollinger Bands for $RUT: the upper band rose, moving farther away from $RUT, indicating that TNA will continue to fall (good for TZA).
http://www.americanbulls.com had TZA this morning as an unconfirmed buy. As I read it, the TZA buy was not confirmed today (pretty much needed an up day today & didn't get it), and the buy signal may be confirmed (or not) tomorrow.
It could go to 105 but most definitely 106 in the coming 2-3 weeks. IMO we will see.
I also think we have more upside left this week.
I would feel a lot more confident about TZA going up if the RSI on $RUT would have hit 70 recently. It hasn't done that (yet). We could still tag the lower BB on $RVX at 22ish before we're done with upside buying pressure.
Late data from http://www.americanbull.com (Late because I don't subscribe, and what's free is late)
Roughly translated into something I can understand:
Didn't get confirmation today (for a TZA buy). So, we look for the same confirmation tomorrow.
Basically, we need a white TZA candle tomorrow. It's ok to buy TZA during the market day if it seems likely that the day will end with a white candle.
No idea how to manage a blog, and happy being here, so long as Red is ok with all this TNA/TZA stuff 🙂
My looks have a horrible track record. Horrible. You probably need to stay up 🙂
That makes sense then.
He did seem to like the market recovery after the last two bits of bad news.
Hard to fault his thinking.
Thanks Earl of. Perhaps you should have a TZA/TNA blog! This is the first time you have said that you think TZA might be up so finally I can sleep tonight!
Thanks for the recap. I did not place any trades today.
He only holds positions overnight when he is *very* confident.
TZA closed down 2.5% today.
We are in a New Moon Trade (favors TZA).
[ After seven days, this trade is DOWN 10.0% ]
Volume today for TZA was about average for the past 7 days.
$RVX (VIX for $RUT) closed 4.1% lower.
TZA was down today and down in 10 of the past 11 days.
Ultimate Oscillator jumped from 30 to 34.5 while TZA fell, which is a divergence possibly warning that TZA might rise tomorrow.
Bollinger Bands for $RVX (VIX for $RUT): the lower BB was touched last Friday, but has moved generally away (up) since then, seemingly indicating that $RVX will be rising (good for TZA).
Bollinger Bands for $RUT: the upper band rose, moving farther away from $RUT, indicating that TNA will continue to fall (good for TZA).
http://www.americanbulls.com had TZA this morning as an unconfirmed buy. As I read it, the TZA buy was not confirmed today (pretty much needed an up day today & didn't get it), and the buy signal may be confirmed (or not) tomorrow.
Overall, it looks like TZA will rise tomorrow.